SHAH ALAM, 4 June: The Selangor State Development Corporation (PKNS) is targeting a revenue of RM1 billion this year compared to RM1.1 billion in 2014.
The PKNS General Manager, Azlan Md Alifiah, said that the target was reduced by RM0.1 billion because they are taking into account the uncertain economic situation and the property development sector which is experiencing a slowdown.
He said that PKNS is however expected to maintain their stable earnings due to their primary focus to develop 37 affordable housing projects involving 10,587 units this year.
“Our target was reduced because we are taking into account various factors, especially the current economic situation, however we are confident of maintaining revenue levels.
“The overall development value of affordable housing projects planned this year until 2019 will involve RM424.7 million and it is expected to be offset by the returns,” he said.
Azlan said that PKNS also continued its real estate development products such as bungalows, semi-detached houses and terraced houses in the center of new growth such as in Shah Alam, Antara Gapi, Kota Puteri and Bernam Jaya.
“The pace of this project shows PKNS’ role as a leader and catalyst of development and opportunities still remain relevant in facing the challenges of economic development this year.
“In addition, the development policy by PKNS for the construction of low cost and affordable housing is 38 percent, medium cost (47%) and high cost (15%) is also being maintained,” he said.
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